Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 7 October 2020 7:05 pm

  US Oil Inventories Decline in Week

  

  Crude oil inventories in the United States increased for the first time in a month, rising by 500,000 barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes following three consecutive weekly declines of US oil stockpiles. Meanwhile, gasoline inventories decreased by 1.4 …

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• 7 October 2020 6:36 pm

  Canadian Ivey PMI Retreats in September

  

  Canada’s Ivey Purchasing Managers Index (PMI) declined in September to a seasonally adjusted reading of 54.3, compared with 67.8 in August. However, the index rose on an annual basis, compared with its level in September 2019 at 48.7, according to data by the Richard Ivey School of Business at Western …

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• 7 October 2020 6:12 pm

  Record Low For Turkish Lira Due to Geopolitical Concerns

  

  The Turkish lira hit a record low against the dollar on Wednesday, influenced by investor concerns about possible US sanctions, strained relations with the European Union and the ongoing conflict in the Caucasus. The currency has lost 24% of its value this year due to concerns about dwindling foreign exchange …

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• 7 October 2020 5:38 pm

  Dollar Stabilizes as Anger Over Trump’s Stimulus Stance Dissipates

  

  The dollar held steady on Wednesday as it tipped lower against most currencies after initially jumping after President Donald Trump canceled talks on economic stimulus with Democratic lawmakers in a move boosting demand for safe-haven assets. Trump’s sudden decision to suspend stimulus talks until after the Nov. 3 presidential election …

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• 7 October 2020 4:57 pm

  Japanese Economy Stopped Shrinking in August

  

  The Japanese government updated its economic assessment on Wednesday for the first time since May 2019, after an important indicator improved in August, indicating a gradual recovery from the impact of the coronavirus pandemic. The Cabinet Office said on Wednesday that the Synchronous Economic Indicators Index, which measures a data …

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• 7 October 2020 3:56 pm

  Home Prices in Britain Increased at The Fastest Annual Pace Since 2016

  

  British home prices increased last month at the fastest annual pace since June 2016, data from the Halifax Mortgage Company showed on Wednesday, the latest sign of a housing market rally following the lifting of lockdown measures linked to the coronavirus pandemic. Home prices rose 7.3% compared to September last …

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• 7 October 2020 2:54 pm

  API: Crude Stocks Rose And Gasoline Fell Last Week

  

  Data from the American Petroleum Institute showed that US inventories of crude oil rose last week, while gasoline and distillate stocks declined. Crude inventories increased by 951 thousand barrels over the week ending on October 2 to about 495.4 million barrels, while analysts’ expectations indicated an increase of 294 thousand …

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• 7 October 2020 2:01 pm

  Oil is Declining With the Faltering US Stimulus Talks

  

  Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

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• 7 October 2020 12:36 pm

  European Shares Rise After Strong Results Overshadowed Doubts About US Stimulus

  

  European stocks rose on Wednesday after reports of optimistic results from British Tesco and the German Dialog Semiconductor helped reduce the impact of uncertainties surrounding a new US stimulus program. The pan-European STOXX 600 index rose 0.2%. Asian stocks and US equity futures also recovered from sharp losses on Wall …

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• 7 October 2020 11:59 am

  German Industrial Production Fell Unexpectedly in August

  

  Data Wednesday revealed that German industrial production fell unexpectedly in August, indicating that the recovery in the largest European economy from the shock of the Corona pandemic may be less robust than initially expected. Data released by the Federal Statistics Office showed that industrial production fell 0.2% on a monthly …

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• 7 October 2020 2:06 am

  Trump Halts Stimulus Talks with Democrats

  

  The President of the United States, Donald Trump, said on Tuesday that he has instructed the halt of stimulus talks between the Republicans and the Democrats until after the next elections, which take place on November 3. “I have instructed my representatives to stop negotiating until after the election when, …

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• 7 October 2020 1:53 am

  BREXIT Talks Showing Promising Progress

  

  Talks between the United Kingdom (UK) and the European Union (EU) are reportedly advancing, with the two parties edging closer to a trade agreement after the Brexit, Reuters reported on Tuesday, citing two diplomatic sources. The EU supposedly plans to finish negotiations by mid-November, one month and a half before …

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• 7 October 2020 1:36 am

  US Treasury Yields Fall Sharply

  

  Treasury yields in the United States declined on Tuesday, following remarks by President Donald Trump that he would end talks for a new stimulus package. Return on the 10-year Treasury bond decreased by 1.9 basis points to 0.741%. Yield on the 30-year bonds fell by 2.8 basis points to 1.537%, …

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